Victor, MN is a small town located in the Midwest. The cost of living is much lower than the US average - a two bedroom apartment costs $1,250 compared to the national average of $1,430 and groceries have an index of 99 versus 100 for across the country. This makes Victor an attractive option for those looking to save money while still having access to all the resources they may need.
The local economy is largely based on agriculture and manufacturing with many companies such as Minco Manufacturing and Galen Industries located in and around Victor. There are also several attractions like Roper Park which features a public swimming pool, several ball fields, camping sites and picnic areas as well as the historic Old Mill which was once used as a flour mill by settlers in the area. Victor also offers residents educational opportunities with both adult education classes and K-12 schools available throughout town.
Victor has an unemployment rate of 4.5%. The US average is 6.0%.
Victor has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 36.1%, which is higher than the US average of 33.5%.
Tax Rates for Victor
- The Sales Tax Rate for Victor is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Victor is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Victor
- The average income of a Victor resident is $33,741 a year. The US average is $28,555 a year.
- The Median household income of a Victor resident is $91,458 a year. The US average is $69,021 a year.